Dixons Carphone is expected to report a sharp fall in profits next week as the retailer continues to reel from a mammoth data breach that saw millions of customer details hacked in a cyber attack.

The electricals chain, led by chief executive Alex Baldock, is forecast to report a 23 per cent decline in headline full-year pre-tax profits to £382m on Thursday, according to a consensus of City analysts.

"These results come less than a month after a jarring profit warning saw the shares drop 21 per cent, giving up the gains made earlier in the year, and a data breach," said Hargreaves Lansdown analyst George Salmon.

Investors will be looking for updates on the group's financial health after it announced in April that The Beast from the East had wiped £4m off of its revenues due to flight cancellations, airport closures and delays. Flybe said it had cancelled 994 flights in the three months to 31 March, compared to 372 in the same period last year.

In October, Exter-based Flybe also issued a second profit warning, blaming “higher than expected” maintenance costs.

Flybe’s chief executive, Christine Ourmieres-Widener, who joined the business in January 2017, told the Aviation Club of the UK this month that Flybe had 'struggled with its identity' in recent years and wasn't sure it was a low-cost or something else.

Flybe reports full year results on Tuesday

She added that the underlying performance belied a 'fantastic opportunity' with the airline refocusing on being a regional carrier, 'with low-volume, high-frequency routes focused on communities.'

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The Bank of England is expected to keep interest rates on hold when the Monetary Policy Committee meets on Thursday. But it faces a growing dilemma over when to hike next amid mixed economic data and rising inflation fears.

MPC members are expected to vote to keep rates at 0.5 per cent on Thursday, having backed away from a rise last month after growth almost ground to a halt.

The Bank has already said it wants to wait and see 'how the data unfolded' over the coming months before raising rates.

Economists had said this left the door firmly open for an August rise, when the bank's next set of quarterly forecasts are published.

But recent data showing that wage growth has stalled, as well as a mixed performance so far in the second quarter, combined with fears over resurgent inflation, have all left the bank with a difficult decision.

Howard Archer, chief economic adviser at the EY Item Club, said: "It is currently touch and go as to whether the Bank of England raises interest rates in August or holds off until November.

"There will need to be sustained clear evidence that the UK economy has improved since the first quarter for the MPC to act."

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In last month's report, the survey of 411 manufacturers reported a further softening in confidence, with the volume of total order books falling to the lowest since November 2016 - although above the long-term average. Export order books held up better, having been broadly unchanged in recent months at a level that is also well above the historical average.

“UK manufacturing has lost some steam since the start of the year, on the back of a softening in both domestic and global growth," said the CBI's head of economic intelligence, Anna Leach.

“While global economic growth – particularly in the EU – has disappointed in the first quarter of the year, demand from overseas continues to shore up manufacturing activity in the UK, with export order books remaining well above historical average."